SUPERHERO WARREN BUFFETT SAVES THE DAY
Five former insurance company executives were found guilty Monday of a scheme to manipulate the financial statements of the world's largest insurance company, American International Group Inc.The defendants, including four former executives including a onetime CEO of General Re Corp., and a former executive of AIG, sat stone-faced as they were convicted of conspiracy, securities fraud, mail fraud and making false statements to the Securities and Exchange Commission.
General Re is part of Berkshire Hathaway Inc., which is led by the billionaire investor Warren Buffett.
In their closing statements, defense attorneys repeatedly invoked the name of the widely admired Buffett in arguing there was no wrongdoing and only a routine deal between AIG and Gen Re.
Buffett was not charged with any wrongdoing and did not testify at the trial. [...]
0 comments
Post a Comment